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20121201
20121231
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it may look in a couple of years thanks to the people's republic of china, which has agreed to bankroll one of the biggest and most ambitious developments in the bay area. >> we are going to see a new san francisco neighborhood. >> reporter: with towers as high as 40 stories and parks and business space it's to be the home for about 18 to 20,000 people. it's going to mean two new bridge ramps and ferry service to san francisco. >> it will really be one of the landmarks in san francisco. >> reporter: making this landmark a reality, however, meant going to china for the estimated $700 million. and that means we are going to see another first. >> the china development bank is requiring that a chinese construction company be given the first right to negotiate a general contract agreement. >> reporter: in other words, not only will the chinese government finance the deal, they are going to build it, as well. and the construction unions are going along because it's going to mean thousands of jobs and because the chinese have agreed to hire locally. >> we're very disappointed that we had to go
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